What electric vehicles mean for oil demand and tanker markets
Gasoline and diesel consumption is set to contract as more electric cars are sold and that equates to a product tanker market that will soon be entirely dependent on fuel price arbitrages and geopolitics for growth
The International Energy Agency’s recent world energy outlook provided the first detailed forecasts to indicate the impact that electric cars will have on transport fuels, such as gasoline and diesel, which comprise almost half of seaborne trade in refined products